As a Local Estate Agent in Brierley Hill one of the common statements we are faced with when taking to potential vendors is “My property won’t sell….it’s the market…properties just aren’t selling.” To try and dispel this myth (often created by agents who themselves have properties stagnating on the market) I have undertaken a market analysis based on data provided by Zoopla to try and inform you of the current state of the market in DY5.
Will my property sell in DY5?
Over the last year there have been 263 property sales in DY5 and 50 of those took place between 1 June 2012 and 17th August 2012.
This number is slightly below previous averages with 359 being sold per annum between 3 and 5 years ago and an average of 298 being sold between 1 and 3 years ago.
Whilst house sales may not be at the same levels as 3 to 5 years ago (which is to be expected given the recession) properties are selling. On average 20 properties are being sold each and every month which is some 6% of the market with 338 properties currently on the market.
What about sales prices?
The average sales price over the last year was £117,294 which in itself is just an indicator as your property is in itself unique and will, as such be valued accordingly. What is interesting to note however is that prices have remained pretty static over the last 12 months (down on average £1,311) but are significantly down on prices 2 years ago – a drop of £6,677 or (-5.27%)
What about selling my house in Brierley Hill ?
As the above analysis indicates – houses are selling but you have to make sure that you take heed of some important factors in order to ensure that your property is SOLD as opposed to sitting on the market.
Prices have dropped in the last 2 years and this should be taken into consideration when setting an expectation for the value of your home. It is important also to take stock of other properties currently on the market (and indeed those sold). DO NOT OVERPRICE – it is a buyer’s market and buyers will ignore houses on Rightmove, Zoopla etc that are deemed to be overpriced. Make sure your property is not ignored.
Presentation is KEY
You have one chance to make a first impression – DO NOT WASTE IT. Before marketing your property make sure all the little jobs are done, paintwork is in good condition, de clutter thus making the most of the space available and ensure the gardens are looked after. Convince the buyer that they can move in without having to do any work.
Choose your agent carefully
You are entrusting your agent to sell your property on your behalf – make sure you choose carefully – find out what they offer over and above their competitors to get the property sold.
In summary, whilst the market has slowed in the area houses ARE still selling in DY5 – at a rate of 4 or 5 per week and as long as you consider the Price, Presentation and Marketing Effort your home WILL SELL.
If you are considering putting your property on the market or if your home is lying stagnant on the market and you would like some fresh ideas then please feel free to contact Aled Edwards on (01384 468121). You will find us to be professional, friendly, approachable and above all else share your desire to sell your property.